Correlation Between AVIC Fund and CICC Fund
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By analyzing existing cross correlation between AVIC Fund Management and CICC Fund Management, you can compare the effects of market volatilities on AVIC Fund and CICC Fund and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in AVIC Fund with a short position of CICC Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of AVIC Fund and CICC Fund.
Diversification Opportunities for AVIC Fund and CICC Fund
Almost no diversification
The 3 months correlation between AVIC and CICC is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding AVIC Fund Management and CICC Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CICC Fund Management and AVIC Fund is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on AVIC Fund Management are associated (or correlated) with CICC Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CICC Fund Management has no effect on the direction of AVIC Fund i.e., AVIC Fund and CICC Fund go up and down completely randomly.
Pair Corralation between AVIC Fund and CICC Fund
Assuming the 90 days trading horizon AVIC Fund is expected to generate 1.23 times less return on investment than CICC Fund. But when comparing it to its historical volatility, AVIC Fund Management is 1.5 times less risky than CICC Fund. It trades about 0.33 of its potential returns per unit of risk. CICC Fund Management is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 368.00 in CICC Fund Management on October 21, 2024 and sell it today you would earn a total of 19.00 from holding CICC Fund Management or generate 5.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
AVIC Fund Management vs. CICC Fund Management
Performance |
| Timeline |
| AVIC Fund Management |
| CICC Fund Management |
AVIC Fund and CICC Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AVIC Fund and CICC Fund
The main advantage of trading using opposite AVIC Fund and CICC Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AVIC Fund position performs unexpectedly, CICC Fund can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CICC Fund will offset losses from the drop in CICC Fund's long position.| AVIC Fund vs. Soochow Suzhou Industrial | AVIC Fund vs. Guangdong Jinma Entertainment | AVIC Fund vs. Southern PublishingMedia Co | AVIC Fund vs. Qingdao Choho Industrial |
| CICC Fund vs. Iat Automobile Technology | CICC Fund vs. Wuxi Chemical Equipment | CICC Fund vs. Shenyang Chemical Industry | CICC Fund vs. Dymatic Chemicals |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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